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11 June Daily technical trader
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Daily Technical Trader – Qatar
Thursday, 11 June 2015
Stocks Covered Today
Ticker Price 1
st
Target
QIIK 80.00 81.00
WDAM 61.30 65.00
QSE Index
Level % Ch. Vol. (mn)
Last 11,836.95 -0.9 2.9
Resistance/Support
Levels 1
st
2
nd
3
rd
Resistance 12,000 12,150 12,270
Support 11,800 11,700 11,350
QSE Index Commentary
Overview:
The QSE Index is losing ground again and
maintaining its course in the short term
downtrend channel. On the daily frame,
we see that the Index might lose more
momentum as the MACD is going below
the zero and the RSI is pointing down.
The 11,800 level is losing significance
while the 11,700 level is gaining more
importance.
Expected Resistance Level: 12,000
Expected Support Level: 11,800
QSE Index (Daily)
Source: Bloomberg, QNBFS Research
QE Summary
Market Indicators 09 Jun 08 Jun %Ch.
Value Traded (QR mn) 336.5 203.3 65.6
Ex. Mkt. Cap. (QR bn) 630.3 636.8 -1.0
Volume (mn) 6.4 4.2 53.8
Number of Trans. 4,130 3,201 29.0
Companies Traded 42 42 0.0
Market Breadth 14:25 24:12 –
QE Indices
Market Indices Close 1D% RSI
Total Return 18,395.24 -0.9 35.8
All Share Index 3,169.41 -0.9 36.3
Banks 3,111.57 -1.5 33.1
Industrials 3,837.42 -0.7 39.0
Transportation 2,465.64 -0.2 48.0
Real Estate 2,644.43 -0.2 41.6
Insurance 4,688.57 -1.0 54.3
Telecoms 1,187.96 -0.9 32.8
Consumer 7,421.00 0.6 58.0
Al Rayan Islamic 4,607.99 0.1 46.6
RSI 14 (Over Bought)
Ticker Close 1D% RSI
MCGS 190.60 3.0 80.0
RSI 14 (Over Sold)
Ticker Close 1D% RSI
MPHC 24.21 -0.6 22.3
QSE Index (30min)
Source: Bloomberg, QNBFS Research
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QIIK
Price % Ch. Volume
Last 80.00 1.27 57,251
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 80.50 81.00 81.50
Support 79.00 77.00 75.00
Commentary
Overview:
QIIK has been trading in a flat range
around the QR80.00 level. In addition, the
price is bouncing off the lower side of a
Symmetrical triangle (seen on the daily
chart). This could be the base for a
positive move on the name.
Expected Target Price: QR
A break above QR80.50 triggers the buy
recommendation.
Suggested Stop-Loss Price: QR79.00
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research
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WDAM
Price % Ch. Volume
Last 61.30 -1.76 21,091
Resistance/Support
Levels (QR) 1
st
2
nd
3
rd
Resistance 63.20 65.00 67.50
Support 61.00 60.00 59.00
Commentary
Overview:
WDAM broke above the upper side of the
Symmetrical Triangle, but is retreating
back to its launch point. That is an
expected move; price usually pulls back
after a level-breakout. Good news is that
the price might be supported by multiple
technical factors such as the moving
averages, the upper and the lower side of
the triangle, and the previous price
consolidation area.
Expected Target Price: QR65.00 –
QR67.50
A break above 63.20 is needed to trigger
the buy recommendation.
Suggested Stop-Loss Price: QR61.00
(Daily)
Source: Bloomberg, QNBFS Research
(Hourly)
Source: Bloomberg, QNBFS Research
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Definitions:
Candlestick: A chart that displays the high, low, opening and closing prices for a security in a single period. The body of the candle is made up by the opening
and the closing prices, i.e., the taller the body the greater the range between these two prices and vice versa. A colored candle denotes a closing price that is
lower than the opening price, while a white candle shows the opposite. The candlestick's shadows or wicks show the period's high and low prices and how they
compare to the opening and closing price. In general, the shape of the candle will vary upon the positions of the period's high, low, opening and closing prices.
Support: A level that could cause more buyers to step in in order to prevent the security from falling or causing the security price to head higher.
Resistance: An inverse of a support level. A resistance area or level could cause more sellers to step in in order to prevent the security from rising or causing the
security price to head lower.
SMA (Simple Moving Average): Is an arithmetic average, which calculates the average price of a security over a defined number of periods and is thus
considered a lagging indicator. SMAs used in our analysis refer to closing prices. In general, SMAs serve many purposes, such as a smoothing tool, an indicative
price direction and potential support/resistance levels.
Market Breadth: Breadth indicates the number of securities that have closed higher vs. the number of decliners in a particular exchange.
MACD (Moving Average Convergence/Divergence): Is a trading indicator, which shows changes in the strength, direction, momentum and duration of a trend in
a stock's price through a collection of three time series calculated from historical closing price data.
RSI (Relative Strength Index): Is a momentum indicator that compares a security’s price gains to its losses for a predetermined number of periods (we generally
use 14 periods). The RSI attempts to point out how a security, in relative terms, is in the overbought/oversold zone. Securities with a RSI above 70 could be
considered as overbought, and below 30 could be considered as oversold.
Pattern/Formation: Is a graphical presentation of a security’s price activity over a certain period of time. Formations come in different shapes (such as, head &
shoulders, triangles, flags, and so on). They can be used to identify potential trends, reversal of trends, price targets, entry and exit points, etc.
Fibonacci Retracements: Are horizontal lines that indicate expected areas of support/resistance for a security based on a predetermined price movement. These
levels are usually indicated by Fibonacci ratios of 23.6%, 38.2%, 50.0%, 61.8% and 100% from that particular movement.
Fibonacci Pivot and Intra-day Support/Resistance: A Pivot Point is generally used to formulate expected future support/resistance levels. From the base Pivot
Point, Fibonacci multiples of the high-low differential are added to form resistance levels and subtracted to form support levels.
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Contacts:
Saugata Sarkar Sahbi Kasraoui QNB Financial Services SPC
Head of Research Head of HNI Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 PO Box 24025
saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa Doha, Qatar
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